TIDMLFT
RNS Number : 4448T
Lift Global Ventures PLC
20 March 2023
20 March 2023
Lift Global Ventures Plc
("Lift" or the "Company")
Half Year Results
The Directors of Lift Global Ventures Plc (AQSE:LFT) are pleased
to announce its half year results for the six-month period ended 31
December 2022.
Chairman's Statement
It is with pleasure that I take this opportunity to update
shareholders of Lift Global Ventures Plc (the "Company" or "Group")
on the Group's performance during the final six months of 2022.
Update on Investment Strategy
Investment in Miriad Limited ("Miriad")
On 5 September 2022, we were pleased to announce the acquisition
of the entire issued share capital of Miriad Limited ("Miriad"), a
financial PR and IR consulting company run by well-known stock
market commentator and current Director, Zak Mir. Miriad provides a
bespoke, personalised PR and IR service to small- and mid-cap
entities in the UK and access to Zak's deep market insights, vast
industry connections and significant social media following.
Miriad is the home of Zak's Traders Café, which is arguably the
one stop shop for technical, fundamental and sentiment analysis
from the moment the markets open. Zak's Traders Café has over
23,000 twitter followers.
Zak has worked in the financial markets for over 30 years,
initially as a derivatives broker in the 90s, and later as one of
the UK's leading stock market commentators. He was a pioneer of
technical analysis in the UK, covering major markets down to small
caps. In recent years, Zak has specialised in providing detailed
insights to retail and institutional investors on small cap
companies, while assisting quoted companies in getting their
message out to these investors.
Zak has written for numerous investment publications including
Shares Magazine, Investors' Chronicle, Yahoo! Finance, and
Spectator Money, while appearing as a guest stock market
commentator on CNBC and Bloomberg. He is a member of the National
Union of Journalists.
The Company continues to invest in Miriad which has recently won
new clients as it looks to ramp up this side of the business
supporting junior listed, and private companies, especially in
difficult financial markets.
Investment in IAMFIRE
In July 2022 the Company also made a small investment in IAMFIRE
Plc, an investment issuer listed on the AQSE Market Growth Exchange
with an investment strategy focused on the identification of
opportunities in social commerce, life sciences & natural
resources, at a cost of GBP49,052.
Investment in Trans-Africa Energy Limited ("TAE")
As announced on 9 December 2022, the Board proposed to broaden
the investment acquisition strategy of the Company to include
energy infrastructure and strengthen the Board with the requisite
skills to pursue this. The Board was pleased to announce, on 31
January 2023, that the Company had subscribed for GBP750,000 of
unsecured convertible loan notes ("Loan Notes") in TAE, a UK
private company focussing on the development, financing,
construction and operation of energy infrastructure projects
located primarily in Sub-Saharan Africa. The subscription was the
Company's first investment in furtherance of its expanded
Investment Strategy - investment in the robust energy
infrastructure sector and enabling a lower carbon economy.
TAE has entered into a Joint Development Agreement ("JDA") with
Ghana National Gas Company Ltd. which grants it a majority and
managing stake in the design, construction, management and
operation of four onshore Ghana related infrastructure projects for
the processing and transporting of natural gas.
The projects are:
1. The Takoradi to Tema Pipeline ("TTP");
2. The Ghana to Côte d'Ivoire Pipeline;
3. The addition of new infrastructure (e.g., gas processing
facilities) associated with the pipelines; and
4. The Prestea to Kumasi Pipeline.
The TTP is the first of the projects and the most advanced with
TAE expecting that financial close to be in H2 2023. The TTP will
be a buried onshore natural gas pipeline running from Takoradi
(Aboadze) to Tema (on the eastern side of Accra).
The proceeds received by TAE pursuant to the Loan Notes will be
used for the first project including Front End Engineering Design,
route surveys, environmental and social impact studies, and general
working capital requirements.
TAE has the ability to issue Loan Notes up to an aggregate
amount of GBP8,000,000 and can redeem the Loan Notes within a
period of 18 months from the date on which they have been issued.
Further details on the terms of the Loan Notes have been detailed
in the Company's announcement of 31 January 2023.
Changes to the Board of Directors
In December 2022, the Company welcomed two new Non-Executive
Directors, Mr. Roy Kelly as Chairman and Mr. Sandy Barblett to its
Board of Directors.
Roy and Sandy bring extensive knowledge and expertise in
completing transactions in the energy sector, as well as
considerable experience working with public companies, and will
help the Company to identify opportunities within its investment
acquisition strategy.
In December 2022, the Company also announced the resignation of
Mr. Paul Gazzard and Mr. Tim Daniel.
Financial Overview
As at 31 December 2022, the Group had cash reserves of
GBP1,199,316, compared to GBP1,322,305 as at 30 June 2022. The cash
balance arose from the Company raising GBP1,726,300 (before
expenses) in April 2022 upon admission to the AQSE Growth Market
("Admission"). The Group remains debt free.
The Group reports revenue of GBP149,875 for the 6-month period
to 31 December 2022 derived from the activities of Miriad.
Administration expenses for the 6-months to 31 December 2022
totalled GBP356,309 (30 June 2022: GBP286,280). Included in this
was administration expenses of Directors' fees of GBP146,392 and a
settlement payment to the departing board members of GBP62,800. The
Group also incurred costs of GBP188,298 for the year to 30 June
2022 in connection with Admission.
Future
On behalf of the Board, I thank you for your continued support
and look forward to continuing to build on the Company's portfolio
in the energy sector and working with TAE as it rolls out its
proposed projects. We are also committed to continuing to build
Miriad. We shall continue to update shareholders on our
investments.
Roy Kelly
Chairman
Condensed Consolidated Statement of Financial
Position As At 31 December 2022
---------- ----------------
Note Unaudited Unaudited
31 December 30 June 2022
2022 GBP
GBP
---------------------------------- ------------------- ---------------
Non-Current Assets
Intangible assets 6 298,696 -
Fair value through profit and loss
equity investments 7 36,567 -
Total non-current assets 335,263 -
Current Assets
Trade and other receivables 171,140 338,366
Cash and cash equivalents 1,199,316 1,322,305
Total current assets 1,370,456 1,660,671
--------------------------------------------------- --------------- ----------------
Total Assets 1,705,719 1,660,671
--------------------------------------------------- --------------- ----------------
Current Liabilities
Trade and other payables 159,387 64,235
--------------------------------------------------- --------------- ----------------
Total Liabilities 159,387 64,235
--------------------------------------------------- --------------- ----------------
Net Assets 1,546,332 1,596,436
--------------------------------------------------- --------------- ----------------
Equity attributable to owners of
the Parent
Share capital 8 957,100 915,433
Share premium 8 1,225,507 1,097,757
Other reserves 57,824 57,824
Retained earnings (694,099) (474,578)
--------------------------------------------------- --------------- ----------------
Total Equity 1,546,332 1,596,436
--------------------------------------------------- --------------- ----------------
The condensed consolidated financial statements were approved
and authorised for issue by the Board of Directors on 17 March 2023
and were signed on its behalf by:
Zak Mir
Chief Executive
Officer
Condensed Consolidated Income Statement
For The Six Months Ended 31 December 2022
Note Unaudited
For the
6 month period Audited
ended 31 For the
December period ended
2022 30 June 2022
GBP GBP
-------------------------------------------- ----- ---------------- --------------
Revenue 149,875 -
Gross Profit 149,875 -
Administration expenses 4 (356,909) (286,280)
Listing fees - legal and professional
services - (188,298)
Operating Loss (356,909) (474,578)
-------------------------------------------- ----- ---------------- --------------
Valuation losses on fair value through
profit and loss equity investments 7 (12,486) -
-------------------------------------------- ----- ---------------- --------------
Loss before Taxation (219,520) (474,578)
-------------------------------------------- ----- ---------------- --------------
Corporation tax charge - -
-------------------------------------------- ----- ---------------- --------------
Loss for the period (219,520) (474,578)
-------------------------------------------- ----- ---------------- --------------
Earnings per share (pence) - Basic &
Diluted 5 (0.23) (1.48)
-------------------------------------------- ----- ---------------- --------------
The Company has no Other Comprehensive Income as at 30 June
2022.
All operations are continuing.
Condensed Consolidated Statement of Cash Flows
For The Six Months Ended 31 December 2022
------------------------------------------------------------- ------------ ------------
Note Unaudited Audited
31 December 30 June
2022 2022
GBP GBP
------------------------------------------------------ ----- ------------- -----------
Cash flows from operating activities
Loss before taxation (219,520) (474,578)
Adjustments for:
Expected credit loss provision 13,667 -
Fair value loss on equity investments 12,486 -
Share based payments - 43,664
Changes in working capital:
Increase in trade and other receivables 204,226 (338,366)
Increase in trade and other payables 43,969 64,235
Net cash used in operating activities 54,828 (705,045)
------------------------------------------------------ ----- ------------- -----------
Cash flows from investing activity
Cash paid for acquisitions, inclusive of acquisition
costs 6 (201,840) -
Cash paid for investments 7 (49,052) -
Cash acquired on acquisitions 6 70,325 -
Net cash used in investing activity (180,567) -
Cash flows from financing activity
Net proceeds from issue of shares - 2,027,350
Cost of share issues 2,750 -
Net cash generated from financing activity 2,750 2,027,350
------------------------------------------------------ ----- ------------- -----------
Net increase in cash and cash equivalents (122,989) 1,322,305
Cash and cash equivalents at start of the 1,322,305 -
period
Cash and cash equivalents at end of period 1,199,316 1,322,305
------------------------------------------------------ ----- ------------- -----------
Non- Cash Investing and Financing Activities
Unaudited 6 months ended 31 December 2022 - 4,166,666 new
Ordinary Shares were issued at a price of GBP0.04 per share as
partial consideration for the acquisition of Miriad Limited,
totalling GBP166,667.
Condensed Consolidated Statement of Changes In Equity
For The Six Months Ended 31 December 2022
Attributable to Equity Shareholders
------------------------------------------------------------
Notes Share Share Other Retained Total
Audited - Period ended capital premium reserves earnings equity
30 June 2022 GBP GBP GBP GBP GBP
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
On incorporation 50,000 - - - 50,000
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
Loss for the period - - - (474,578) (474,578)
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
Total Loss for the period - - - (474,578) (474,578)
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
Transactions with owners
Issue of ordinary shares 8 865,433 1,150,867 - - 2,016,300
Cost of capital 8 - (53,110) - - (53,110)
Options and warrants granted - - 57,824 - 57,824
Total transactions with
owners 865,433 1,097,757 57,824 - 2,021,014
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
As at 30 June 2022 915,433 1,097,757 57,824 (474,578) 1,596,436
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
Unaudited - Period ended
31 December 2022
At 1 July 2022 915,433 1,097,757 57,824 (474,578) 1,596,436
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
Loss for the period - - - (219,520) (219,520)
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
Total Loss for the period - - - (219,520) (219,520)
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
Transactions with owners
Issue of ordinary shares 8 41,667 125,000 - - 166,667
Cost of capital 8 - 2,750 - - 2,750
Total transactions with
owners 41,667 127,750 - - 169,417
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
As at 31 December 2022 957,100 1,225,507 57,824 (694,099) 1,546,332
------------------------------ ------ ----------- ---------- ---------- ---------- -----------
1. Reporting Entity
Lift Global Ventures Plc (the "Company" or the "Group") is a
company domiciled in the United Kingdom. The consolidated interim
financial information as at and for the six months ended 31
December 2022 comprise the results of the Company and its
subsidiary (together referred to as the "Group").
The consolidated financial statements of the Group as at and for
the period ended 30 June 2022 are available upon request from the
Company's registered office at Suite 1, 15 Ingestre Place, London,
England, W1F 0DU or at liftgv.com.
2. BASIS OF PREPARATION
The financial information set out in this report is based on the
consolidated financial information of Lift Global Ventures Plc and
its subsidiary company. The financial information of the Group for
the 6 months ended 31 December 2022 was approved and authorised for
issue by the Board on 17 March 2023. The interim results have not
been audited. The financial information for the period ended 31
December 2022 set out in this interim report does not comprise the
Group's statutory accounts as defined in section 434 of the
Companies Act 2006. The Directors have elected not to apply IAS 34
Interim Financial Reporting. This financial information is
consistent with the recognition and measurement requirements of
UK-adopted international standards. The comparative information for
the year ended 30 June 2022 is not the Group's full annual accounts
for that period but has been derived from the annual financial
statements for that period.
The consolidated financial information incorporates the results
of Lift Global Ventures Plc and its subsidiary undertaking as at 31
December 2022. The Group was formed on 5 September 2022 upon the
Company's acquisition of Miriad Limited, as such the corresponding
amounts are for the Company only for period ended 30 June 2022.
The Group financial information is presented in Pound Sterling
and values are rounded to the nearest pound.
The same accounting policies, presentation and methods of
computation are followed in the interim consolidated financial
information as were applied in the Company's latest annual audited
financial statements except for those stated at 2.1 below or those
that relate to new standards and interpretations effective for the
first time for periods beginning on (or after) 1 July 2022 and will
be adopted in the 2023 annual financial statements.
A number of new standards, amendments and became effective on 1
July 2022 and have been adopted by the Group. None of these
standards have materially affected the Group.
Accounting policies applied for the 6-month period ended 31
December 2022
2.1 Basis of Consolidation
The Group Financial Statements consolidate the Financial
Statements of Lift Global Ventures Plc and the Financial Statements
of its subsidiary undertaking, Miriad Limited, made up to 31
December 2022.
Subsidiaries are entities over which the Group has control. The
Group controls an entity when the Group is exposed to, or has
rights to, variable returns from its involvement with the entity
and has the ability to affect those returns through its power over
the entity. Where an entity does not have returns, the Group's
power over the investee is assessed as to whether control is held.
Subsidiaries are fully consolidated from the date on which control
is transferred to the Group. They are deconsolidated from the date
that control ceases.
Inter-company transactions, balances, income and expenses on
transactions between group companies are eliminated. Profits and
losses resulting from intercompany transactions that are recognised
in assets are also eliminated. Accounting policies of subsidiaries
have been changed where necessary to ensure consistency with the
policies adopted by the Group.
2.2 Intangible Assets
Goodwill arises on the acquisition of subsidiaries and
represents the excess of the consideration transferred and the
acquisition date fair value of any previous equity interest in the
acquire over the fair value of the net identifiable assets,
liabilities and contingent liabilities of the acquire.
Goodwill is not amortised however impairment reviews are
undertaken annually, or more frequently if events or changes in
circumstances indicate a potential impairment. The carrying value
of goodwill is compared to the recoverable amount, which is the
higher of value in use, discounted to present value using a
discount rate reflective of the time value of money and risks
specific to the business unit. Any impairment is recognised
immediately as an expense and is not subsequently reversed.
For the purpose of impairment testing, goodwill acquired in a
business combination is allocated to each of the cash-generating
units, or groups of cash-generating units. Each unit or group of
units to which the goodwill is allocated represents the lowest
level within the entity at which the goodwill is monitored for
internal management purposes. Goodwill is monitored at the
operating segment level.
2.3 Business Combinations
Acquisitions of business are accounted for using the acquisition
method. The consideration transferred in a business combination is
measured at fair value, which is calculated as the sum of the
acquisition -- date fair values of assets transferred by the Group,
liabilities incurred by the Group to the former owners of the
acquiree and the equity interest issued by the Group in exchange
for control of the acquiree. Acquisition -- related costs are
recognised in profit or loss as incurred.
At the acquisition date, the identifiable assets acquired, and
the liabilities assumed are recognised at their fair value at the
acquisition date.
Goodwill is measured as the excess of the sum of the
consideration transferred, the amount of any non -- controlling
interests in the acquiree, and the fair value of the acquirers
previously held equity interest in the acquiree (if any) over the
net of the acquisition -- date amounts of the identifiable assets
acquired, and the liabilities assumed. If, after reassessment, the
net of the acquisition -- date amounts of the identifiable assets
acquired and liabilities assumed exceeds the sum of the
consideration transferred, the amount of any non -- controlling
interests in the acquiree and the fair value of the acquirers
previously held interest in the acquiree (if any), the excess is
recognised immediately in profit or loss as a bargain purchase
gain.
2.4 Fair value through profit and loss equity investments
(i) Classification
Fair value through profit and loss equity investments are
classified in this category if acquired principally for the purpose
of trading or selling in the short term. Investments in this
category are classified as current assets if expected to be settled
within 12 months; otherwise, they are classified as
non-current.
(ii) Recognition and Measurement
Regular purchases and sales of fair value through profit and
loss equity investments are recognised on the trade date - the date
on which the Group commits to purchasing or selling the asset. They
carried at fair value through profit or loss is initially
recognised at fair value, and transaction costs are expensed in the
Income Statement. They are measured at fair value using the fair
value hierarchy, as disclosed at note 7.
Fair value through profit and loss equity investments are
derecognised when the rights to receive cash flows from the assets
have expired or have been transferred, and the Group has
transferred substantially all of the risks and rewards of
ownership.
Gains or losses arising from changes in the fair value of fair
value through profit and loss equity investments at fair value
through profit or loss are presented in the Income Statement within
"Other (Losses)/Gains" in the period in which they arise.
2.5 Segment Reporting
Operating segments are reported in a manner consistent with the
internal reporting provided to the chief operating decision-maker.
The chief operating decision-maker, who is responsible for
allocating resources and assessing performance of the operating
segments, has been identified as the Board of Directors that makes
strategic decisions.
Segment results, include items directly attributable to a
segment as well as those that can be allocated on a reasonable
basis.
2.6 Revenue
Revenue is measured at the fair value of the consideration
received or receivable, and represent amounts receivable for goods
supplied, stated net of discounts, returns and value added taxes.
Under IFRS 15 there is a five-step approach to revenue recognition
which is adopted across all revenue streams. The process is:
Step 1: Identify the contract(s) with a customer;
Step 2: Identify the performance obligations in the
contract;
Step 3: Determine the transaction price;
Step 4: Allocate the transaction price to the performance
obligations in the contract; and
Step 5: Recognise revenue as and when the entity satisfies the
performance obligation.
Revenue comprises of public relations services provided by Zak
Mir. Public relations services are billed on a monthly or quarterly
retainer basis and comprise of web interviews, posts on social
media, articles, podcast interviews and introduction to contacts.
Revenue is recognized evenly over time on a monthly basis.
3. GOING CONCERN
Management has prepared a forecast and believe that current cash
reserves will adequately cover the working capital requirements of
the Company. In addition, the Company acquired the entire share
capital of Miriad Limited on 5 September 2022 which is a revenue
generating and profitable entity. The Group has sufficient cash to
cover the working capital requirements of the Group, for a period
of at least 18 months from the period end.
As such, the Directors have a reasonable expectation that the
Company has, and will have access to, adequate resources to
continue in operational existence for the foreseeable future and,
therefore, continue to adopt the going concern basis in preparing
the financial statements.
4. EXPENSES BY NATURE
Unaudited
31 December Audited
2022 30 June 2022
GBP GBP
------------------------------------------------ ------------- --------------
Directors' fees 146,392 112,000
Employers tax contributions and other
employment expenses 15,351 4,278
Fees paid to the company's auditor for
the audit of the Company financial statements 50 20,000
Professional, legal and consulting fees 145,613 65,247
PR and marketing 5,825 1,750
Insurance 11,163 4,025
Exchange listing fees 4,928 9,137
IT and software services 1,352 8,754
Rent 245 13,503
Share option expense - 43,664
Expected credit loss provisions 13,667 -
Other expenses 12,323 3,922
------------------------------------------------ ------------- --------------
Total administrative expenses 356,909 286,280
------------------------------------------------ ------------- --------------
5. LOSS PER SHARE
Unaudited
31 December Audited
2022 30 June 2022
GBP GBP
------------------------------------------------- ------------- --------------
Net loss for the year from continued
operations attributable to equity shareholders (219,520) (474,578)
Weighted average number of shares for
the period/year 94,215,435 32,126,311
------------- --------------
Basic loss per share for continued operations
(expressed in pence) (0.23) (1.48)
------------- --------------
The number of share options and warrants that could potentially
dilute the loss per share in future periods is 32,814,510 as at 31
December 2022. A calculation for the diluted loss per share has not
been performed as this would be anti-dilutive.
6. ACQUISITION OF MIRIAD LIMITED
On 5 September 2022, the Company acquired 100% of the issued
share capital of Miriad Limited ("Miriad"). The total consideration
payable for the acquisition consisted of GBP200,000 in cash and the
issue and allotment of 4,166,666 Ordinary Shares at GBP0.04 per
share, for total proceeds of GBP166,667. Acquisition costs totaled
GBP1,840 and have been included within the cost of the
investment.
Prior to the acquisition, Mirad was owned and controlled by Zak
Mir, a Director of Company, and his wife.
The following table summarises the consideration paid for Miriad
Limited and the fair values of the assets and equity assumed at the
acquisition date.
GBP
-------------------------------------------- --------
Cash paid for acquisition 200,000
Total proceeds from share issue 166,667
--------
Total consideration 366,667
--------
Acquisition related costs 1,840
--------
Total consideration and acquisition costs 368,507
--------
Recognised assets and liabilities acquired:
Cash and cash equivalents 70,325
Trade and other receivables 58,600
Trade and other payables (59,115)
--------
Total identifiable net assets 69,810
--------
Goodwill 298,696
--------
7. FAIR VALUE THROUGH PROFIT AND LOSS EQUITY INVESTMENTS
GBP
---------------------------------------------- --------
1 July 2021 -
--------
30 June 2022 -
--------
Additions at cost 49,052
Change in fair value recognised in profit and
loss (12,486)
--------
31 December 2022 36,567
--------
Fair value through profit and loss equity investments include
the following;
GBP
------------------------------------ --------
Quoted:
Equity securities - United Kingdom 36,567
--------
36,567
--------
The fair value of quoted securities is based on published market
prices.
All assets and liabilities for which fair value is measured are
categorised within the fair value hierarchy. The fair value
hierarchy prioritises the inputs to valuation techniques used to
measure fair value. The Group uses the following hierarchy for
determining and disclosing the fair value of financial instruments
and other assets and liabilities for which the fair value was
used:
- level 1: quoted prices in active markets for identical assets or liabilities;
- level 2: inputs other than quoted prices included in level 1
that are observable for the asset or liability, either directly (as
prices) or indirectly (derived from prices); and
- level 3: inputs for the asset or liability that are not based
on observable market data (unobservable inputs).
The following tables set forth, by level, equity investments
measured at fair value on a recurring basis as at 31 December
2022:
Quoted Prices Significant Significant
in Active Markets Other Observable Unobservable
for Identical Inputs Inputs
Assets and Liabilities
(Level 3)
(Level 1) (Level 2) GBP
GBP GBP
------------------ ----------------------- ----------------- -------------
Description
Equity securities 36,567 - -
----------------------- ----------------- -------------
36,567 - -
----------------------- ----------------- -------------
8. Share capital
Ordinary Share
Number of shares premium Total
shares GBP GBP GBP
----------------------------------- ----------- --------- ---------- ----------
Issued and fully paid
----------------------------------- ----------- --------- ---------- ------------
Issued on incorporation - 13
May 2021 5,000,000 50,000 - 50,000
Issue of new shares - 9 September
2021 29,000,000 290,000 - 290,000
Issue of new shares - 29 April
2022 57,543,334 575,433 1,150,867 1,726,300
----------------------------------- ----------- --------- ---------- ------------
Cost of Capital - - (53,110) (53,110)
----------------------------------- ----------- --------- ---------- ------------
At 30 June 2022 91,543,334 915,433 1,097,757 2,013,190
----------------------------------- ----------- --------- ---------- ----------
Issue of new shares - 5 September
2022 4,166,666 41,667 125,000 166,667
Cost of Capital - - 2,750 2,750
----------------------------------- ----------- --------- ---------- ----------
At 31 December 2022 95,710,000 957,100 1,225,507 2,182,607
----------------------------------- ----------- --------- ---------- ----------
On 9 September 2021, the Company issued and allotted 29,000,000
new Ordinary Shares at a price of GBP0.01 per share for gross
proceeds of GBP290,000.
On 29 April 2022, the Company issued and allotted 57,543,334 new
Ordinary Shares at a price of GBP0.03 per share for gross proceeds
of GBP1,726,300.
On 5 September 2022, the Company issued and allotted 4,166,666
new Ordinary Shares at a price of GBP0.04 per share as partial
consideration for the acquisition of Miriad Limited.
9. EVENTS AFTER THE REPORTING DATE
On 31 January 2023, the Company subscribed for GBP750,000 of
unsecured convertible loan notes in Trans-Africa Energy
Limited.
The Directors of the Company accept responsibility for the
contents of this announcement.
Enquiries:
Lift Global Ventures Plc
Zak Mir, CEO +44 (0)203 745 1865
Optiva Securities (AQSE Corporate
Adviser and Broker)
Christian Dennis
Daniel Ingram +44 (0)203 411 1881
For more information please visit: www.liftgv.com
END
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